Key Points
- Figma director Daniel Rimer sold 12,475 shares at an average of $18.97, for about $236,651; he retained 751,075 shares after the sale.
- Figma reported quarterly EPS of $0.10, beating the consensus estimate of a $0.22 loss, while revenue rose 42.8% year over year to $391.42 million.
- The stock rose 2.6% to $19.41 on Friday. Analysts’ consensus rating was Hold, with an average price target of $28.80.
Figma, Inc. (NYSE:FIG - Get Free Report) Director Daniel Rimer sold 12,475 shares of the company's stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $18.97, for a total transaction of $236,650.75. Following the sale, the director directly owned 751,075 shares of the company's stock, valued at approximately $14,247,892.75. This represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Figma Stock Up 2.6%
FIG traded up $0.49 during trading on Friday, hitting $19.41. The company's stock had a trading volume of 6,257,940 shares, compared to its average volume of 11,581,324. Figma, Inc. has a one year low of $16.60 and a one year high of $41.24. The firm has a market cap of $8.89 billion, a PE ratio of -18.14 and a beta of 1.17. The business's 50 day simple moving average is $21.83 and its 200-day simple moving average is $22.73.
Figma (NYSE:FIG - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.32. Figma had a negative net margin of 40.21% and a negative return on equity of 32.80%. The business had revenue of $391.42 million for the quarter. During the same quarter in the prior year, the business earned $0.10 EPS. The company's revenue was up 42.8% compared to the same quarter last year. Equities research analysts expect that Figma, Inc. will post -0.68 EPS for the current fiscal year.
Institutional Investors Weigh In On Figma
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FIG. Greylock XIV GP LLC bought a new stake in Figma during the second quarter valued at about $1,056,824,403. Bank of America Corp DE lifted its position in shares of Figma by 428.1% in the first quarter. Bank of America Corp DE now owns 4,180,575 shares of the company's stock valued at $88,377,000 after acquiring an additional 3,388,902 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Figma by 26,445.4% in the third quarter. Pictet Asset Management Holding SA now owns 3,072,370 shares of the company's stock valued at $64,581,000 after acquiring an additional 3,060,796 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Figma in the first quarter valued at about $36,600,000. Finally, SC US Ttgp LTD. lifted its position in shares of Figma by 5.8% in the first quarter. SC US Ttgp LTD. now owns 26,728,171 shares of the company's stock valued at $565,034,000 after acquiring an additional 1,466,851 shares in the last quarter.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on FIG. Morgan Stanley set a $33.00 target price on Figma in a report on Thursday, August 6th. JPMorgan Chase & Co. lowered their target price on Figma from $28.00 to $24.00 and set a "neutral" rating on the stock in a research report on Thursday, November 5th. Weiss Ratings lowered Figma from a "sell (d-)" rating to a "sell (e+)" rating in a report on Monday, November 9th. Oppenheimer restated a "market perform" rating on shares of Figma in a research report on Thursday, November 5th. Finally, Stifel Nicolaus reduced their price target on Figma from $25.00 to $22.00 and set a "hold" rating for the company in a research report on Wednesday, October 14th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $28.80.
View Our Latest Report on Figma
Figma Company Profile
(
Get Free Report)
Figma, Inc. develops browser-based software for designing and building digital products. Its platform supports collaborative interface design, interactive prototyping and workflows that help teams plan, create and refine websites, apps and other digital experiences. Figma's products include Figma Design for interface design and prototyping, FigJam for online whiteboarding and brainstorming, and Dev Mode, which helps developers inspect designs and access implementation details. Figma Slides provides tools for creating and presenting slide decks.
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